Project Risk Management Professional
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IT Project Risk Management Bootcamp

Project Risk Management Professional

Project risk management is a set of management techniques aimed at ensuring that actual and planned project outcomes coincide, or better. As such, project risk management is practiced by the great majority of project planners, project managers and their staff. Risk management is embedded in nearly every facet of planning and implementing a project.

This course deals with that extra, formalized set of techniques which can be applied cost-effectively to manage the risk to those projects which are unlikely to proceed to plan without specific focus on risk. The majority of public sector defense, aerospace and infrastructure projects above a few million dollars of contract value are in this category, as are many projects for internal customers, and product development projects, in the commercial sector. This course is designed to establish a framework for application of formal risk management to significant projects and to impart to delegates, a capability to select and implement appropriate risk management techniques within that risk management framework.

Who Should Attend This Course?

This Project Risk Management course is designed for personnel of all types who make project-related decisions in the presence of uncertainty. The seminar will be of particular value to programme managers, project sponsors, project managers and their planning advisers, technical managers, project engineers, system engineers, software systems engineers, engineers of all other types, and those responsible for the development of policy and processes in the fields of development, acquisition, and supply.

Course Method and Materials

The course is delivered using a balanced combination of video, presentation, workshops and discussion sessions. The workshops and discussions are focused on putting into practice the techniques covered in the presentation and video. The workshops are used extensively to reinforce learning and to contribute to the development of understanding. Delegates are provided with a set of comprehensive bound course notes covering the presentation material and workshop exercises, a Workshop Workbook, a two-CD CDROM of relevant resources, and other materials and checklists for future reference and use.

Learning Objectives

At the conclusion of this seminar, delegates are expected to have a reasonable working knowledge of risk in a project context, sufficient to make or contribute from a risk perspective to decisions regarding project planning and execution. Delegates will be better equipped to perform as program managers, project managers, team leaders and leaders of functional areas. Delegates who are practicing engineers will be better equipped to make sound engineering decisions in the presence of risk.

Key Questions

  • What is risk?
  • Why are acquirer and supplier risk management programs fundamentally different?
  • Is there any difference between project management and risk management?
  • What expenditure can be justified for a risk management program?
  • How do quantitative and qualitative risk analysis methods differ?
  • How does risk relate to requirements?
  • Which risk management techniques are most effective?
  • How can the risk management function be most effectively achieved within a project organization?

Risk Concepts
  • Definitions of success criterion, threat, vulnerability, risk and opportunity
  • Types of risk
  • Risk to whom?
  • Risk in other contexts – financial loss, safety, etc.

 

Risk Management Process Models
  • ISO 31000:2009 Risk Management
  • ISO/IEC 27005:2008 Information technology – Security techniques – Information security risk management
  • Description of alternative process models
  • Acquirer application to the system acquisition life cycle
  • Supplier application to the system development life cycle

 

Risk Planning
  • Enterprise policies
  • Capital equipment procurement practices and risk
  • Risk management within system development planning
  • Why many projects are high risk
  • The risk management program plan

 

Success Criteria Analysis
  • The concepts of success criteria analysis and valuation
  • No value – no risk!
  • Measures of project effectiveness
  • Measures of system effectiveness
  • Identifying and valuing project success criteria
  • Software support to success criteria analysis
  • Workshop 4-1: developing compromise impact values

 

Risk Identification and Analysis Techniques
  • Top level risk matrix
  • Workshop 5-1: Development of a risk matrix
  • Expert interviews
  • Analogy comparison/lesson learned studies
  • Transition templates
  • Plan evaluation
  • Decision-event tree analysis
  • Workshop 5-2: Construction of an EMV decision tree
  • Estimating relationship
  • Network analysis
  • Life cycle cost analysis
  • Workshop 5-3: Review of LCC input & Monte Carlo analysis
  • Cost risk/WBS simulation model
  • Risk factors technique
  • Workshop 5-4: Use of the risk factors technique
  • Performance tracking
  • Independent project assessment
  • Independent cost estimating
  • Qualitative techniques for technology risk analysis
  • Workshop 5-5: Application of the SDIO method

 

Risk Abatement Planning
  • The concept of specific action
  • Risk abatement techniques
  • Risk abatement plans (RAPs)
  • Integration of risk abatement planning with plans – the PP, SEMP, SDP, etc.
  • Risk abatement in concept exploration & definition phase
  • Risk-driven development strategies
  • System development methodologies
  • Acquirer assurance measures
  • Supplier assurance measures
  • Risk abatement check list
  • Risk abatement in detail design phase
  • Methodologies
  • The special aspects of software risk
  • Risk abatement check list
  • Risk abatement in production & deployment phase
  • Typical risk areas
  • Risk abatement check list
  • Risk abatement in operation & support (in-service) phase
  • Risk introduced in operation
  • Risk introduced in support
  • Risk abatement check list
  • Risk abatement in disposal phase
  • Risk abatement check list
  • Purchasing guideline 8
  • Workshop 6-1: Use of CPG8 abatement strategies
  • Transition templates
  • Workshop 6-2: Application of transition templates/NAVSO P6071

 

Risk Abatement
  • Putting the RAPs into effect
  • The concept of control

 

Developing a Risk Management Project Plan
  • Estimating risk management project resources
  • Organizing for effective risk management
  • Selecting risk analysis techniques
  • Maintaining the plan
  • Workshop 8-1: Planning risk management for a representative project

 

Risk Management Software Tools?
  • In Closing

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Thank you for choosing Makintouch Consulting for IT education and training.
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